Personal Finance Complete Study Guide
Test.
Which of the following best explains why students should learn about personal finance? - CORRECT
ANSWER Learning to manage money at this stage can eliminate financial mistakes and promote huge
financial benefits for the future.
Key components of financial planning include all of the following except: - CORRECT ANSWER Allow
your financial planner to make all of your major money decisions.
Which of the following statements best describe how Americans are being outsmarted by banks and
other lenders? - CORRECT ANSWER Credit is marketed so well that we desire to have it while
completely dismissing the fact that interest rates and fees continue to destroy our financial well-being.
Personal financial success is primarily the result of: - CORRECT ANSWER Managing your money
behavior.
Which of the following statements best explains why income alone does not determine wealth? -
CORRECT ANSWER How much money a person makes does not dictate his or her spending and saving
behavior.
Which of the following is a consequence of spending more than you make? - CORRECT ANSWER Missed
opportunity to save and invest, stress, a cycle of debt, ALL OF THE ABOVE
Which of the following is not a true statement? - CORRECT ANSWER The credit industry in America has
not changed much since 1917.
Whent it comes to managing money, success is about __% knowledge and __% behavior. - CORRECT
ANSWER 20, 80
The widespread financial insecurity of Americans is probably because - CORRECT ANSWER The savings
rate of Americans is low and many borrow in order to spend more than they earn.
Test.
Which of the following best explains why students should learn about personal finance? - CORRECT
ANSWER Learning to manage money at this stage can eliminate financial mistakes and promote huge
financial benefits for the future.
Key components of financial planning include all of the following except: - CORRECT ANSWER Allow
your financial planner to make all of your major money decisions.
Which of the following statements best describe how Americans are being outsmarted by banks and
other lenders? - CORRECT ANSWER Credit is marketed so well that we desire to have it while
completely dismissing the fact that interest rates and fees continue to destroy our financial well-being.
Personal financial success is primarily the result of: - CORRECT ANSWER Managing your money
behavior.
Which of the following statements best explains why income alone does not determine wealth? -
CORRECT ANSWER How much money a person makes does not dictate his or her spending and saving
behavior.
Which of the following is a consequence of spending more than you make? - CORRECT ANSWER Missed
opportunity to save and invest, stress, a cycle of debt, ALL OF THE ABOVE
Which of the following is not a true statement? - CORRECT ANSWER The credit industry in America has
not changed much since 1917.
Whent it comes to managing money, success is about __% knowledge and __% behavior. - CORRECT
ANSWER 20, 80
The widespread financial insecurity of Americans is probably because - CORRECT ANSWER The savings
rate of Americans is low and many borrow in order to spend more than they earn.
